Group Profit and Loss Account
5 May 2017 InterContinental Hotels Group PLC First Quarter Trading Update Highlights Global Q1 comparable RevPAR1 up 2.7% Enhanced global scale: 7k rooms opened, increasing net system size 3.4% YoY to 767k rooms Building future growth: 14k rooms (112 hotels) signed; pipeline of 232k rooms Richard Solomons, Chief Executive of InterContinental Hotels Group PLC, said: “We have made a good start to 2017, with 3.4% net system size growth year-on-year and 2.7% RevPAR growth driven by increases in both rate and occupancy, and benefitting from the later timing of Easter. We continued our focus on building and leveraging scale in our priority markets, opening 49 hotels in the quarter, including our 300th for Greater China, and signing hotels into our pipeline at the fastest rate for the first quarter since 2008. We also strengthened our boutique portfolio with the opening of a Hotel Indigo property in downtown Los Angeles. Despite the uncertain economic and political environment in some markets, we remain confident in the outlook for 2017 and our ability to deliver sustainable growth into the future.” First Quarter RevPAR performance Group RevPAR was up 2.7%, with rate up 0.8% and occupancy up 1.2% points. The shift in timing of Easter out of Q1 had a positive impact, especially in the Americas and Europe, which we expect to reverse in Q2. Americas RevPAR was up 2.2%, with US RevPAR up 1.9%. Performance stabilised in oil producing markets, where RevPAR was up 1% excluding the favourable impact of Houston hosting the Super Bowl.
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